EPFO: Central Board of Trustees rejects proposal to reduce PF contribution to 10%
The Central Board of Trustees (CBT), a retirement fund body of EPFO, has turned down the proposal to reduce the mandatory provident fund (PF) contributions from workers and employers from present 12% to 10% in a meeting held in Pune on Saturday.
The Central Board of Trustees (CBT) of retirement fund body EPFO on Saturday turned down the proposal to reduce the mandatory contributions from workers and employers to 10%.
Presently, employees and employers contribute 12% of basic wages each towards Employees Provident Fund Scheme (EPF), Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme (EDLI).
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